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Cryptocurrency News Today: Ripple, Ethereum, Bitcoin, Litecoin and More

Stuck at $12K: Bitcoin Price Needs Quick Progress to Avert Further Losses (CoinDesk)
Stuck in the doldrums today, bitcoin needs a quick break above $12,500 or the tide may turn in favor of the bears, the charts suggest. The “V” shaped recovery in bitcoin (BTC) from Wednesday’s low has stalled below the $12,000 mark in the last 12 hours. Prices on CoinDesk’s Bitcoin Price Index (BPI) did rise to $12,045.09 at 15:14 UTC yesterday, before retreating to sub-$11,500 levels by 22:00 UTC. The slide from the high of $12,045 was extended further to $10,988.79 in Asian hours today. However, bitcoin soon regained poise and rose to an intraday high of $11,808.49 (at 08:44 UTC).

How Europe is Bursting Bitcoin’s Bubble (Politico)
Europe’s financial watchdogs are turning the screws on bitcoin and its cryptocurrency pals, helping to let the air out of a price boom that many economists warn is a bubble. Over the past year Europe’s financial regulators watched cautiously as bitcoin’s price soared nearly to $20,000, lifting other cryptos in its wake. But the grace period is coming to an end as Europeans join policymakers from around the world in warning about a possible bubble that could punish regular investors if it pops.

Pixabay/Public Domain

Pixabay/Public Domain

Morgan Stanley Now Clearing Bitcoin Futures for Clients, Helping Institutions Gain Exposure (CoinTelegraph)
Morgan Stanley is now clearing Bitcoin futures for their clients, meaning that Goldman Sachs is no longer the sole Wall Street firm doing so. Morgan Stanley joins Goldman Sachs, TD Ameritrade, E*Trade and others in clearing CME and Cboe Bitcoin futures. The reaction of the Bitcoin community has been divided over the creation of regulated Bitcoin futures, with some suggesting manipulation of the underlying Bitcoin market. However, it’s clear that the more Wall Street firms that get involved in anything related to Bitcoin, the more legitimacy it gives to digital currency.

Will a cryptocurrency Crackdown Kill Bitcoin, Ripple and Ethereum? Investors Speak Out Over ‘Bloodbath’ Fears (Metro.co.uk)
The cryptocurrency world was terrified by rumours suggesting a global crackdown on the trading of virtual coins is imminent. But new rules could slow the pace of bitcoin’s rise but should not threaten its existence, investors and market participants at a cryptocurrency conference said on Thursday. At the North American Bitcoin Conference in Miami, investors and executives were unfazed by rumours that governments will soon ban the buying and selling of virtual coins.

DIGITAL Currency Ethereum Has Risen by 3% Overnight and is Today Valued at £767 ($1,068.42). (TheSun)
The cryptocurrency can be purchased from the Coinbase app where users can also buy Bitcoin. But what are CryptoKitties, the new game which increased the value of Ethereum? What are CryptoKitties?
CryptoKitties, dubbed the next big cryptocurrency, is a new application built on the Ethereum chain. It was launched on Thanksgiving and became available for transactions in December. Players can buy and sell virtual cats for as much as $10,000, in a bid make hundreds of thousands more in real value. Users purchase their collectable kitties with Ethereum, and then breed them to create more kitties.